Truist Financial Raises Corcept Therapeutics (NASDAQ:CORT) Price Target to $76.00

Corcept Therapeutics (NASDAQ:CORT) had its price target increased by Truist Financial from $65.00 to $76.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the company. Piper Sandler lifted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an overweight rating in a research note on Wednesday, September 18th. Canaccord Genuity Group reiterated a buy rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, HC Wainwright lifted their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $56.50.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $45.86 on Monday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 43.26 and a beta of 0.45. The business has a fifty day moving average of $36.87 and a 200 day moving average of $31.09. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $47.71.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. As a group, equities research analysts expect that Corcept Therapeutics will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now directly owns 22,772 shares in the company, valued at approximately $1,053,888.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,251 shares of company stock worth $1,365,292. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares during the period. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at approximately $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at approximately $35,000. FinTrust Capital Advisors LLC raised its position in shares of Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,348 shares during the period. Finally, Blue Trust Inc. raised its position in Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,962 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.